So far this year, the Nixon administration has made $430 million in spending cuts to the state’s $23.7 billion budget, she said. The state currently has about 59,000 positions, but not all are filled.

Missouri has borrowed another $150 million from its budget reserve fund to pay bills and the salaries of government workers, mostly teachers, Luebbering said.

That brings this year’s total borrowing to $325 million since the fiscal year started July 1. The state’s $510 million rainy day fund has $170 million left to last until June 30, 2010.

The Nixon administration previously borrowed $125 million in July and $75 million in August for cash flow purposes.

Luebbering said the state usually borrows more at the beginning of the fiscal year because revenue collections don’t pick up until the end of the year.

The state constitution requires that all money borrowed from the budget reserve fund must be paid back by May 15.

Year-to-date net general revenue collections have dropped 10 percent from last year, to $1.7 billion from $1.9 billion.

Net general revenue collections for September decreased 16 percent to $648.7 million, down from $774.7 million in September 2008.

kvolkmann@bizjournals.com

Comments

If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.